Graham Capital Management L.P. Purchases Shares of 24,520 Steven Madden, Ltd. (NASDAQ:SHOO)

Graham Capital Management L.P. purchased a new stake in shares of Steven Madden, Ltd. (NASDAQ:SHOO) in the 4th quarter, Holdings Channel reports. The institutional investor purchased 24,520 shares of the textile maker’s stock, valued at approximately $1,043,000.

Other institutional investors have also added to or reduced their stakes in the company. Pictet Asset Management Holding SA lifted its position in shares of Steven Madden by 17.9% in the 4th quarter. Pictet Asset Management Holding SA now owns 10,503 shares of the textile maker’s stock worth $447,000 after purchasing an additional 1,594 shares during the period. Bank of Montreal Can lifted its position in shares of Steven Madden by 5.5% in the 4th quarter. Bank of Montreal Can now owns 10,660 shares of the textile maker’s stock worth $453,000 after purchasing an additional 554 shares during the period. Principal Financial Group Inc. lifted its position in shares of Steven Madden by 3.1% in the 4th quarter. Principal Financial Group Inc. now owns 381,196 shares of the textile maker’s stock worth $16,208,000 after purchasing an additional 11,602 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Steven Madden by 26.4% in the 4th quarter. JPMorgan Chase & Co. now owns 584,068 shares of the textile maker’s stock worth $24,835,000 after purchasing an additional 121,972 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Steven Madden by 2.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,122,680 shares of the textile maker’s stock worth $47,736,000 after purchasing an additional 25,903 shares during the period. Hedge funds and other institutional investors own 99.88% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SHOO shares. Piper Sandler dropped their target price on shares of Steven Madden from $35.00 to $25.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. StockNews.com cut shares of Steven Madden from a “buy” rating to a “hold” rating in a research report on Tuesday, January 14th. Loop Capital decreased their price target on shares of Steven Madden from $40.00 to $35.00 and set a “hold” rating for the company in a research note on Thursday, February 27th. Citigroup decreased their price target on shares of Steven Madden from $35.00 to $23.00 and set a “neutral” rating for the company in a research note on Thursday, May 1st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Steven Madden in a research note on Friday, May 2nd. Nine research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $32.00.

Steven Madden Price Performance

Shares of Steven Madden stock opened at $26.75 on Wednesday. The company has a 50-day moving average of $23.50 and a 200 day moving average of $35.19. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of 11.38 and a beta of 1.04. Steven Madden, Ltd. has a 1 year low of $19.05 and a 1 year high of $50.01.

Steven Madden (NASDAQ:SHOO) last released its quarterly earnings data on Wednesday, May 7th. The textile maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.14. The business had revenue of $551.38 million during the quarter, compared to analyst estimates of $557.81 million. Steven Madden had a net margin of 7.68% and a return on equity of 23.41%. Steven Madden’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. On average, equities analysts anticipate that Steven Madden, Ltd. will post 2.66 EPS for the current year.

Steven Madden Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, June 9th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Monday, June 9th. This represents a $0.84 dividend on an annualized basis and a yield of 3.14%. Steven Madden’s dividend payout ratio is currently 36.21%.

Steven Madden Profile

Steven Madden, Ltd. designs, sources, and markets fashion-forward branded and private label footwear, accessories, and apparel in the United States and internationally. It operates through Wholesale Footwear, Wholesale Accessories/Apparel, Direct-to- Consumer, and Licensing segments. The Wholesale Footwear segment designs, sources, and markets various products, including dress shoes, boots, booties, fashion sneakers, sandals, and casual shoes under the Steve Madden, Dolce Vita, Betsey Johnson, Blondo, GREATS, and Anne Klein brands.